Prosperityme
- Assets
- $1.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 14
- Location
- Portland, ME
- Founding
- 11/2009
- Data as of
- 12/2021
- EIN
- 80-0362127
Organization Overview
Prosperityme is located in Portland, ME. The organization was established in 2009. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Prosperityme employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperityme is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Prosperityme generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $917.1k during the year ending 12/2021. While expenses have increased by 16.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROSPERITYME EMPOWERS, THROUGH EDUCATION AND COUNSELING, MEMBERS OF REFUGEE AND IMMIGRANT COMMUNITIES TO INVEST IN THEMSELVES TO BUILD FINANCIAL STABILITY, CAREERS, BUSINESSES AND WEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROSPERITYME PROVIDED COURSES OF BASIC MONEY MANAGEMENT, COVID-19 EDUCATION, AND FINANCIAL COUNSELLING AND COACHING TO 139 INDIVIDUALS AND FAMILIES. PROSPERITYME PROVIDED 3 WORKSHOPS ON HOUSING SERVING 7 INDIVIDUALS AND FAMILIES. 5 INDIVIDUALS WERE SUPPORTED BY THE SUPPORTING IMMIGRANTS TENANTS SECURITY DEPOSIT SUPPORT PROGRAM. PROSPERITYME RECEIVED 48 APPLICATIONS FOR SCHOLARSHIPS AND AWARDED SCHOLARSHIPS TO 19 STUDENTS. FOR HOUSING SERVICES, PROSPERITYME HELPED 1,030 FAMILIES TO APPLY FOR AND OBTAIN RENT ASSISTANCE THROUGH THE EMERGENCY RENTAL ASSISTANCE PROGRAM, FOR A TOTAL AMOUNT OF OVER 5.4 MILLION. PROSPERITYME'S HOUSING TEAM ALSO ASSISTED 30 HOMELESS INDIVIDUALS AND FAMILIES WITH HOTEL PLACEMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude K Rwaganje Executive Di | Officer | 40 | $108,732 |
Eileen Fongemie Treasurer | OfficerTrustee | 2 | $0 |
Tara Jenkins Chair | OfficerTrustee | 2 | $0 |
Colette Twigg-Rowse Secretary | OfficerTrustee | 2 | $0 |
Helen Andreoli Board Member | Trustee | 1 | $0 |
Quincy Hentzel Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $72,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $990,952 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,062,952 |
| Total Program Service Revenue | $361,663 |
| Investment income | $1,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,422,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,688 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $119,194 |
| Compensation of current officers, directors, key employees. | $23,838 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $422,368 |
| Pension plan accruals and contributions | $12,958 |
| Other employee benefits | $18,967 |
| Payroll taxes | $37,849 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,504 |
| Advertising and promotion | $2,798 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,006 |
| Travel | $746 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,307 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,540 |
| Insurance | $2,776 |
| All other expenses | $753 |
| Total functional expenses | $917,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005,534 |
| Savings and temporary cash investments | $671,843 |
| Pledges and grants receivable | $39,197 |
| Accounts receivable, net | $11,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,515 |
| Net Land, buildings, and equipment | $12,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,950 |
| Total assets | $1,748,540 |
| Accounts payable and accrued expenses | $68,291 |
| Grants payable | $0 |
| Deferred revenue | $202,272 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $270,563 |
| Net assets without donor restrictions | $847,434 |
| Net assets with donor restrictions | $630,543 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,748,540 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Prosperityme has recieved totaling $238,500.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: COVID-19 Related Assistance, Education, Financial Counseling | $107,250 |
Elmina B Sewall Foundation Freeport, ME PURPOSE: GENERAL OPERATING SUPPORT | $36,000 |
Maine Equal Justice Partners Inc Augusta, ME PURPOSE: CREDIT TO KIDS ADVOC | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $20,250 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Middlesex Opportunity Council Inc Framingham, MA | $58,219,671 | $100,623,342 |
Brockton Area Multi-Services Inc Brockton, MA | $53,527,033 | $98,602,137 |
Open Sky Community Services Inc Worcester, MA | $49,353,222 | $95,640,760 |
Element Care Inc Lynn, MA | $83,865,974 | $102,077,849 |
New Hampshire Catholic Charities Inc Manchester, NH | $140,545,315 | $96,098,300 |
Aspire Living & Learning Inc Barre, VT | $31,445,013 | $90,937,720 |
The Opportunity Alliance South Portland, ME | $26,061,913 | $84,718,963 |
Care Dimensions Inc Danvers, MA | $84,137,816 | $77,104,167 |
Mystic Valley Elder Services Inc Malden, MA | $29,895,171 | $79,691,071 |
Pine Street Inn Inc Boston, MA | $152,996,753 | $83,069,628 |
Young Mens Christian Association Of Greater Boston Inc Boston, MA | $163,836,403 | $83,104,990 |
Easter Seals New Hampshire Inc Manchester, NH | $69,640,268 | $76,411,817 |